Mitt Romney may have breached ethics laws through company linked to Paul Ryan's brother, who worked at Bain Capital


Lucky us, we get a twofer! First, there were possible ethics violations for then-Governor Willard Romney, and then the bonus that Paul Ryan's very own brother worked at Bain Capital. Who could ask for more?

Via The Telegraph, not exactly a liberal publication:

Mitt Romney may have breached state ethics laws as Governor of Massachusetts by holding a stake in a company that did lucrative work for his administration and was linked to the family of Paul Ryan, a Daily Telegraph investigation has found.

The Republican presidential candidate appears to have profited from a marketing company that was contracted by the state of Massachusetts after receiving $5 million (£3.2 million) in financial backing from Bain Capital, Mr Romney’s investment firm.

One of his vice-presidential candidate's brothers, who is a former Bain consultant, was at the time of the investment a senior executive at the marketing company, Imagitas, which was co-founded by another former Bain executive.

Both Mr Romney and Tobin Ryan, who omits his work at Imagitas from his corporate biography, also apparently stood to benefit from the $230 million (£146 million) sale of the company in 2005, while Mr Romney remained in office.

Oopsy daisy there, Romney-Other Ryan. According to Massachusetts law, all state employees must dump any financial interests in private sector contracts with state agencies. If they don't, they can be fined $2,000 or be sentenced to 2 1/2 years in prison. These days, the punishment could be even worse, per The Telegraph.

Of course, Willard and Bain refused to comment about the matter, as did the Ryans. Quel surprise. This from the people who want us to "just trust them."

As the article points out, there are "previously unnoticed connections between Mr Romney’s involvement in the private sector, government and campaign finance" which, at least IMHO, should create even more interest in those pesky tax returns he's so desperate to keep from us so we can see what else we've been missing out on.

As Melanie Sloan of Citizens for Responsibility and Ethics in Washington suggests, "he should have disclosed his stake in a company that stood to gain from its work for his administration.”

Victor Fleischer, a law professor at the University of Colorado specialising in private equity, said it was “possible but unlikely” that Mr Romney could have completely prevented himself from benefiting from Imagitas.

"This highlights the problems for voters with the lack of detail that has been disclosed about what was and is in Mr Romney’s Bain holdings,” said Prof Fleischer.[...]

Spokesmen for Mr Romney repeatedly declined to confirm or deny that he had profited from the sale of Imagitas, or to answer a series of detailed questions about his financial connections to the firm lodged by The Daily Telegraph earlier this week. “You’ve seen his disclosure forms - you know what’s on them,” one campaign source said.

Well now, he/she sure told them! With a disdainful wave of the hand and a nose in the air, he/she dismissed any questions with the usual stock answer: It's in the forms (no it isn't) and that's all you're gonna get from us (not if we can help it).

You know who else profited? The Carlyle Group, the group with major links to the GOP, the group that, according to Wiki:

... has been profiled in two notable documentaries, Michael Moore's Fahrenheit 911 and William Karel's The World According to Bush.

In Fahrenheit 911, Moore makes nine allegations concerning the Carlyle Group, including: That the Bin Laden and Bush families were both connected to the Group; that following the attacks on September 11, the bin Laden family’s investments in the Carlyle Group became an embarrassment to the Carlyle Group and the family was forced to liquidate their assets with the firm; that the Carlyle group was, in essence, the 11th largest defense contractor in the United States.[37] Moore focused on Carlyle's connections with George H. W. Bush and his Secretary of State James A. Baker III, both of whom had at times served as advisers to the firm.

Please read the whole article here, it's lengthy and chock full o' details.